The decade of bull run from ~$260 in 2001 to $1920 in 2011 (6X) on back of safe haven buying and an investment asset class ended with revival in major global indices and on track economies. The 5 years of slow and steady pain from 2011 to 2016 where gold lost 45% of its glittering from its peak might come to an end. We might witness the resumption in the bullish...
Bullish or Inverse Head & Shoulder (in green) and Bullish Flag (in black)
Nifty rallied to 8,200 on the back of surprise repo rate cut of 50bps by RBI. The rise from ~7,700 ro ~8,200 in 5 trading days seems tiring around 200DEMA (Daily Exponential Moving Average) which is at 8,184. Also the bearish AB=CD harmonic reversal pattern is visible on charts at the upper line of Andrew's Pitchfork tool. The failure to move above 8,270 can...
Gold might remain in the range of $900-$1400 till 2025 which is suggested by the price structure and time cycle since 1975 to 2000. The fractal suggest dip to $950-1000 and may be in a range for another decade (+/-15%).
Gold trades near 5 years low hitting the low of $1073 in the early hours of day. The Bullish Three Drives suggest buying at the current levels with the stop loss of $1060 for the target of $1250.
DJIA is trading at the resistance of Pitch fan and losing some strength at higher levels. Would stay cautious on longs.
Looking for the $72 as it has move above the BAMM level.